Freshstream announces today that it has reached a definitive agreement to sell TrueNoord, the specialist regional aircraft lessor, to Arcus Infrastructure Partners. As part of the agreement Arcus Infrastructure Partners will take a 74% share of the business, with Freshstream and management re-investing to hold the remainder.
This is a significant milestone in TrueNoord’s journey and will underpin future aircraft portfolio acquisitions with stable capital provision as the business builds a global leased fleet of Embraer, ATR, Airbus and De Havilland Canada jets and turboprops.
Since founding the business alongside its CEO Anne-Bart Tieleman, Freshstream has supported TrueNoord’s transformation into a leading regional aircraft lessor through a focused value creation strategy
Freshstream helped build an industry-leading management team alongside Anne-Bart, with key senior appointments including the Chairman, CFO, CCO and COO, along the way developing the company’s systems, processes and risk framework to an industry leading standard. Scale was achieved through the effective deployment of several hundred million dollars of capital raised from a range of blue-chip institutional investors.
The fleet has grown from just three aircraft to one of the largest pure-play regional platforms globally, with disciplined asset acquisition at attractive risk-adjusted returns, including its recent forward order of new generation Embraer E-Jets, while successfully navigating the challenges of the COVID-19 period.
“TrueNoord’s trajectory has been exceptional, reflecting our strategy of backing entrepreneurial businesses and their management teams”
Rayhan Davis, Managing Partner at Freshstream, said:
“We are immensely proud of our partnership with TrueNoord and the flightpath we have been on together with Anne-Bart and his team. From a fleet of just three aircraft to one of the largest pure play regional aircraft lessors in the world, TrueNoord’s trajectory has been exceptional, reflecting our strategy of backing entrepreneurial businesses and their management teams. We are excited to continue the journey and welcome Arcus on board for the next stage.”